From WA looking at Melbourne

[Moya]

Hi Every one,
From WA looking at Brisbane and Melbourne.
Just got back from Melbourne and was interested in a duplex (3x2 free standing) for $235,000 rent for around $250.00 got talked out of it as it was in Cranbourne, brand new.
Also am buying a block in Lyndhurst (Marriott Waters) and building on it, just got an e-mail from some-one over there that says it smells because of the water treatment plants nearby.
When totally finished it will cost $300,000 and rent for $320.00to $350.00 value of house should be $360,000.
What do you guys that live over there think of these two places.

I have been reading alot about Frankston, only did this after the above.

Thanks

Moya

 

[The Y-man]

From WA looking at Melbourne ...... wow, you must have great eyesight!

Cheers,

The Y-man

 

[The Y-man]

....rent for $320,000 to $350,000 value of house should be $360,000....

??? I wish I could get $350,000 rent.....

Cheers,

The Y-man

 

[Moya]

Y-man

Are you saying this isn't achievable?

 

[Giulio Taranto]

no i assume he is saying that 250 k rent is a massive amount ! Think it was a mis type

 

[Moya]

I just realised what I typed, duh I did mean $250.00 for Cranbourne and $350.00 for Marriott Waters

Moya

 

[The Y-man]

Only 2 houses advertised for rent in Lyndhurst on RE.com - asking $265 and $250 for 3bedders.....

Cheers,

The Y-man

 

[traveller]

Moya,

You must add 20-30K to your figures. I was looking at this option some time back and quickly worked out these Land and House packages had some important exclusions which will need to done in order to make it Rent ready.

Important to remember what the builders say as rent ready is not necessarily rent-ready...check the detail of the inclusions

thanks-

 

[The Y-man]

.

Important to remember what the builders say as rent ready is not necessarily rent-ready...check the detail of the inclusions

Good point! eg window furnishings, light fittings, door stops, towel rails, phone, aerial, landscaping, etc etc etc.

Cheers,

The Y-man

 

[Moya]

Thanks guys,
The total price ($300,000) is me finishing it off myself to make it tenant ready

 

[Nigel Kibel]

cranbourne

If yo are looking to make money Cranbourne is not the area. Frankston, Ringwood with the new freeway will be far closer o the city and should increase at a much greater rate.

I would also suggest apartments within the 10km ring to the city,especially older style.

 

[Moya]

thanks Nigel, what about Lyndhurst (new estate Marriott Waters).
Have pulled out of Cranbourne.
We don't sell, we hang onto for long term and let time take its course.
We then use the equity to but more.

Moya

 

[The Y-man]

I was actually of the impression that Lyndhurst basically had no infrastructure (i.e. a new suburb in the middle of paddocks). Unlike Cranbourne or Hampton Park, no shopping centres, stations, etc.

Cheers,

The Y-man